• Journal of Digital Convergence
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• v.11 no.4
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• pp.177-188
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• 2013

This study examines how managerial ownership structure affects the borrower's choice of private versus public debt using 2,608 firm-year data for 2006-2008. This paper investigates the relationship between managerial ownership structure and debt choice. Managerial ownership is measured using number of stocks and unexercised stock-options and debt is classified public and private debt. The results find that there is a positive association between managerial ownership and the private debt dependence and also find that when firms finance additional funds, higher managerial ownership leads managers to choose private debt not public debt. Since private debt can be classified into bank debt and non bank debt, this paper examines the relationship between managerial ownership and a choice of bank debt. The results indicate that managers with higher ownership are more likely to use bank debt over public debt and non bank debt. By examining the relation between managerial ownership and a debt choice, this paper has following contributions. First, this study shows that managerial ownership affects the choice of the source of financing using three different proxies of managerial ownership. Second, this study classified private debt into bank debt and non-bank debt and provide the evidence of preference toward private debt especially bank debt among other financing sources. Finally, there are extensive studies related to capital structure and managerial ownership, but there is little empirical research on the debt choice and managerial ownership. Thus, this paper adds to literature by exploring the effects of managerial ownership on a debt choice.

• Journal of Digital Convergence
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• v.15 no.8
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• pp.465-476
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• 2017

This study attempted to investigate the effects of gold therapy on myofascial pain syndrome(MPS) in the neck, back and shoulder in comparison to stone therapy and verify its availability as an efficient nursing mediator in clinical trials. For this, therapy was given to a total of 20 women in two groups (gold therapy group, stone therapy group: 10 persons each) living in the capital region three times a week (40 min. at a time) for two weeks. In both groups, a statistically significant decrease was found in the following after the treatment: neck circumference, shoulder width, width of the inferior angle of scapula, shoulder thickness and waist circumference (p<0.001). In terms of differences, the gold therapy group was greater than the stone therapy group. In both groups, a statistically significant increase was observed after treatment in the following: cervical lateral bending (right), cervical lateral bending (left), cervical flexion and cervical extension angle (p<0.001). In terms of differences, the gold therapy group was greater than the stone therapy group. In conclusion, this study seems to show that gold therapy is a nursing intervention option having effective fascial relaxation and pain relief for the neck, back and shoulder. Therefore, it would be valuable as safe, non-invasive therapy.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.99-112
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• 2014

This study the impact on the real earnings management credit rating (RANK), and looked at the impact on the real earnings management grade credit rating changes (decrease, increase) the effects in detail. firm for a total of 06 years for firm that are listed on the Korea Stock Exchange from 2008 to 2013 for the hypothesis - using the proceeds of the year 2,583 sample were analyzed to study. A regression analysis of the relevance of the credit rating (RANK) and real earnings measured results between the credit rating and a measure of real earnings management ACFO and ADE (+) between AMC (-) IFRS and receive relevant ADE between(+) between AMC (-) if the credit rating (RANK) is increased ACFO and is significantly sound level at 1% showed the relevance of (+) did not significantly ADE (+) 10% of AMC if the credit rating fell ACFO is (-) from AMC show the relevance of positive credit rating is dropped capital letter showed for performing real earnings management of positive even give up the future cash flow in order to reduce the cost.

• Journal of Digital Convergence
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• v.14 no.11
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• pp.135-142
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• 2016

Although growth potential of trade between Korea and the GCC region has existed in various fields through economic and business cooperation, few data and practical study related with trade structure and cooperation between Korea and GCC region have been found and the potential for further economic expansion has not been extensively explored. In this sense, this study is to analyze trade flows between Korea and GCC region countries(Saudi Arabia, Unites Arab Emirates, Qatar) using trade intensity index, trade complementarity index and special country bias index, identify potential for further expansion of Korea's trade into the GCC region and further propose the implication of FTA between mutual countries. Our analysis of trade flows also demonstrates that there is a high level of trade complementarity between Korea and GCC region. It means that increase of trade complementarity and special country bias come from removing not only trade barrier and increasing but also capital movement. Especially, the study reveals that there is an untapped potential for Korea to increase its exports to Saudi, based on the highest complementarities. Export expansion between Korea and Saudi through FTA will create new opportunity in near future.

• Journal of Digital Convergence
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• v.8 no.1
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• pp.41-53
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• 2010

In this paper, we discuss patent pool and a patent valuation scheme for fair royalty distribution among the patents in a pool. In the knowledge-based economy, intellectual capital-the accumulation of technology and know-how-is recognized as the most important source of company's competitive advantage and economic growth. By providing exclusive rights to patent holders, the patent system aims to encourage innovation-invention & commercialization of new technologies-in order to raise the standard of living. However, drawbacks of patent system, which occur as the number of patents issued increases rapidly and patent ownership is fragmented, may slow down the innovation efforts seriously. A promising solution is the patent pool approach, which was for instance employed by the U.S. congress during World War I to free the airplane manufacturers from the patent tangle by letting them license all the patents for a fee. It is necessary to figure out relative technological contribution of patent for fair distribution of royalty revenues among patent holders. The Rating/Ranking Method seems to fit to that valuation purpose. We examined technology valuation models from various organizations and selected a set of more influential valuation factors which can be incorporated as scoring criteria in the Rating/Ranking Method.

• Journal of Digital Convergence
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• v.18 no.1
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• pp.73-81
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• 2020

The purpose of this paper is to analyze the efficiency of on-off-line integrated operations of listed retailers, propose ways to identify and improve the problems of inefficient enterprises, and accelerate the integration of on-off-line. The 28 listed retail companies selected total capital, management expenses, number of employees and wage rates as input factors as of 2018 and total operating income and operating profit were selected as output indicators to analyze efficiency using DEA. The results show that the integrated enterprise has a higher overall level of operational efficiency, but it is still in a state of stagnation. The pure technical efficiency of the integrated enterprise is generally higher, and the scale efficiency is the main reason that the overall efficiency of the enterprise is not improved. This study can help retail companies adjust their development strategies of online and offline integration according to their own degree of online and offline integration. This study has limitations in explaining the change in efficiency of retailers by conducting a cross-sectional analysis using data limited to 2018. It is necessary to utilize data over the next several years to conduct a longitudinal analysis.

• Journal of Digital Convergence
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• v.18 no.8
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• pp.111-118
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• 2020

This study conducted an empirical analysis of SSE-listed companies to verify the effects of evaluation and disclosure of internal control systems on the agency costs management and controlling shareholders. Agency costs can affect the valuation of accounting information as asymmetry of information in the relationship between a company and its stakeholders, or induce financial costs as an adverse selection. If the firm's agency costs are reasonable, the valuation of the company can also move in a relatively positive direction. In this study, the evaluation information of the internal control system was analyzed through sales management ratio and equity ratio as substitute variables to analyze the relationship between management and agent costs of the controlling shareholders. In addition, independent control ratio, capital balance ratio, and company scale were used as control variables, as a result of the analysis, the evaluation information of internal control was found to be related to the agency costs of managers and governance structure. This study can be conducted to positive factors in evaluating the reliability and corporate value of accounting information according to the evaluation of internal control of SSE-listed companies and helps to understand the financial reporting environment.

• Journal of Digital Convergence
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• v.15 no.7
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• pp.111-121
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• 2017

Smartphone use has become a part of everyday life, not only for adolescents but also for elderly and older people. Thus, this study explored the effect of demographic variables, the amount of smartphone usage, type of smartphone use and psychosocial variables on smartphone dependence of the elder group. We analyzed the data of 5627 (50s and 60s) of the Internet overdependence survey data of the Korea Information Society Agency in 2016. As a result of hierarchical multiple regression analysis, More frequency of smartphone use of weekday and weekend, and usage time of smartphone of weekday were related to greater smartphone dependence. More smartphone use for information seeking and games were associated with greater smartphone dependence. And, as loneliness and anxiety increased, smartphone dependence increased, while smartphone dependence decreased, as social capital increased. Through this study, it is necessary to understand characteristics related to smartphone dependence of elder and older group, and to use this knowledge to solve their smartphone dependence. Future studies also need to identify the causal relationship between predictors of smartphone dependence in elderly and older people.

• Journal of Digital Convergence
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• v.18 no.4
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• pp.9-21
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• 2020

The Gross Merchandise Volume for the China's Singles day event in 2019 is about $38.4 billion. More than 500 million customers placed about 1.3 billion orders a day, and the related delivery volume is 2.8 billion. The main technologies associated with the 4^th Industrial Revolution are bringing about a big change in the logistics industry. The purpose of this study is to present implications by reviewing the main technologies which are applied to China's Singles day event, the introduction of smart logistics in China, and analyzing the progress of Singles day, smart system of Alibaba, its significance. China still has poor infrastructure in non-capital areas. And many Chinese companies are actively introducing and developing smart logistics to cover the vast continental area of China. Singles Day is a representative case in point where the smart logistics and main technologies related to 4^th Industrial Revolution are applied. The data obtained through smart logistics would be reused for inventory management, production planning, and order processing, contributing to the optimization of the company's operations. In the era of the 4^th Industrial Revolution, domestic companies and governments need to make efforts to expand the introduction of smart logistics to secure competitiveness with global advanced companies.

• Korean Journal of Construction Engineering and Management
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• v.21 no.4
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• pp.72-81
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• 2020

Sustainable development goals (SDGs) are designed to promote human and social development and address challenges related to sustainable economic development, in addition to creating quality employment. SDGs create new market and business opportunities that enable companies to effect business changes through innovative solutions. To tackle structural problems and create infrastructure for future societies, a national-level digital transformation strategy is being developed in Korea. The Korean government announced an investment plan for living social overhead capital (SOC) to address various social and structural problems caused by low economic growth. This study emphasizes the importance of building SOCs in accordance with the requirements of future societies. This study primarily aims to suggest business opportunities created by achieving SDGs, by analyzing business cases involving 3D printing-based construction. Implementing living SOCs through ingenious thinking will not only create new businesses and jobs through digital transformation, but also improve the economic and social value by encouraging community members to be proud of their future society.